Mihai B Ion
- Assistant Professor, Finance
- Member of the Graduate Faculty
Contact
- (520) 621-0737
- McClelland Hall, Rm. 315H
- Tucson, AZ 85721
- mihaiion@arizona.edu
Degrees
- Ph.D. Finance
- Purdue University, West Lafayette, Indiana, United States
- Essays on the Cross-Sectional Predictability of Stock Returns
- M.B.A. Management
- Purdue University, GISMA Business School, Hannover, Germany
- B.S. Mathematics
- Jacobs University Bremen, Bremen, Germany
Work Experience
- Purdue University, West Lafayette, Indiana (2013 - 2014)
- Purdue University, West Lafayette, Indiana (2010 - 2013)
- Purdue University, West Lafayette, Indiana (2008 - 2013)
Awards
- Eller Dean's Award for Undergraduate Teaching Excellence
- Spring 2016
- Scrivner Teaching Award
- Spring 2016
Interests
Teaching
Investments
Research
Cross-sectional asset pricing, Policy uncertainty and corporate decisions
Courses
2024-25 Courses
-
Empirical Meth/Finance
FIN 525 (Spring 2025) -
Investments
FIN 421 (Spring 2025)
2023-24 Courses
-
Empirical Meth/Finance
FIN 525 (Spring 2024) -
Investments
FIN 421 (Spring 2024)
2022-23 Courses
-
Empirical Meth/Finance
FIN 525 (Spring 2023) -
Investment Analysis
FIN 521 (Spring 2023)
2021-22 Courses
-
Empirical Meth/Finance
FIN 525 (Spring 2022)
2020-21 Courses
-
Empirical Meth/Finance
FIN 525 (Spring 2021)
2019-20 Courses
-
Empirical Meth/Finance
FIN 525 (Spring 2020) -
Investments
FIN 421 (Spring 2020) -
Preceptorship
FIN 391 (Spring 2020)
2018-19 Courses
-
Empirical Meth/Finance
FIN 525 (Spring 2019) -
Investments
FIN 421 (Spring 2019)
2017-18 Courses
-
Empirical Meth/Finance
FIN 525 (Spring 2018) -
Investments
FIN 421 (Spring 2018)
2016-17 Courses
-
Empirical Meth/Finance
FIN 525 (Spring 2017) -
Investments
FIN 421 (Spring 2017)
2015-16 Courses
-
Empirical Meth/Finance
FIN 525 (Spring 2016) -
Investments
FIN 421 (Spring 2016)
Scholarly Contributions
Journals/Publications
- Lopresti, J., Ion, M., & Greenland, A. (2019). Exports, investment and policy uncertainty. Canadian Journal of Economics, 52(3), 1248-1288. doi:10.1111/caje.12400More infoBuilding on a literature that underscores the value of delaying investment in the face of uncertainty, we study how policy uncertainty in 18 large economies affects exports to these economies. We decompose aggregate bilateral trade flows from 1995 to 2013 into intensive and extensive margin components and employ a gravity specification to assess the impact of policy uncertainty on each margin separately. Consistent with theory, increases in policy uncertainty decrease both trade values and the extensive margin but, if anything, increase the intensive margin. In further tests, we use various proxies for sunk export costs and demonstrate that the effects of policy uncertainty are more pronounced where sunk costs are higher.
- Ion, M., Gulen, H., & Bonaime, A. A. (2018). Does policy uncertainty affect mergers and acquisitions. Journal of Financial Economics, 129(3), 531-558. doi:10.1016/j.jfineco.2018.05.007More infoAbstract Political and regulatory uncertainty is strongly negatively associated with merger and acquisition activity at the macro and firm levels. The strongest effects are for uncertainty regarding taxes, government spending, monetary and fiscal policies, and regulation. Consistent with a real options channel, the effect is exacerbated for less reversible deals and for firms whose product demand or stock returns exhibit greater sensitivity to policy uncertainty, but attenuated for deals that cannot be delayed due to competition and for deals that hedge firm-level risk. Contractual mechanisms (deal premiums, termination fees, MAC clauses) unanimously point to policy uncertainty increasing the target’s negotiating power.
Presentations
- Bonaime, A., Ion, M. B., & Gulen, H. (2016, April). Does Policy Uncertainty Affect Mergers and Acquisitions?. Arizona State University/University of Arizona Junior Finance Conference.
- Bonaime, A., Ion, M. B., & Gulen, H. (2016, April). Does Policy Uncertainty Affect Mergers and Acquisitions?. University of Oregon - Invited Seminar.
